Whale Moves $13.12M USDC to HyperLiquid, Buys 25.56M ENA in Targeted Accumulation
On-chain monitoring shows a single large wallet withdrew roughly $13.11–13.12 million USDC from exchanges and deposited the funds to HyperLiquid over a four-day period, concentrating buying pressure for ENA on that venue. The latest on-chain snapshot reports about $7.25 million of that USDC has been spent to acquire approximately 25.56 million ENA (average cost implied by reports), while the wallet still holds about $5.78 million USDC and continues to make purchases during the current session. Earlier reporting noted $6.6M routed to HyperLiquid and $5.1M already deployed to buy 17.76M ENA; the subsequent update shows further purchases increasing total ENA accumulated and total capital deployed. No significant distribution or selling has been observed. For traders: monitor ENA liquidity and order-book depth on HyperLiquid — concentrated single-wallet accumulation can magnify short-term price moves, widen spreads, and alter market-making behaviour. Key stats: ~13.12M USDC deposited to HyperLiquid, ~25.56M ENA bought, ~$7.25M spent, ~5.78M USDC remaining; purchases ongoing.
Bullish
Concentrated accumulation by a single large wallet on a single venue (HyperLiquid), combined with ongoing purchases and no observed selling, is likely to exert upward pressure on ENA price in the short term. The wallet’s remaining USDC (≈$5.78M) and continued activity mean additional buy-side demand can push prices higher and increase volatility, especially given the concentration of liquidity on HyperLiquid which may have shallower order books than major exchanges. In the medium term the effect depends on whether accumulation continues, if other participants follow (momentum), or if the whale begins to distribute. If the whale accumulates steadily without selling, supply is effectively removed from circulation on exchanges, supporting higher prices. Conversely, if the wallet later sells into the market, that could reverse gains. Overall, present activity signals a bullish bias for ENA price in the near term, with risk of amplified swings due to concentrated liquidity and potential liquidity gaps on the trading venue.